Microsoft confirmed it will cut the price of its Xbox 360 video game console on 8/27, launching a counter move to a recent Sony PlayStation 3 price cut.
The cut, which is expected to be announced today, is supposed to see the Xbox 360 Elite receive a price cut from $400 down to $300. Furthermore, the Xbox 360 Pro model should receive a $50 price cut down to $250, as the company continues to phase out the Pro models.
Target, Wal-Mart, and Best Buy sales fliers indicate the new price cuts will become effective on Sunday, but nothing is official.
After pleas from game publishers to lower the console's price, Sony dropped the price of its 80GB and 160GB models $100. The 80GB PS3 is now available for $299, while the 160GB model is available for $399. The Xbox 360 price cuts won't likely shut down the effectiveness of the PS3 price cut, but it will surely make gamers think about which console they want to purchase.
Microsoft, Sony and Nintendo, who has seen sales of its popular Wii game console finally drop, are announcing price cuts and new bundles to help woo new consumers. The Wii, which has been available for $249 since its launch, is expected to receive a price cut at some point, though Nintendo hasn't announced anything.
The price cuts set up an interesting holiday sales race, with each company expected to market their consoles heavily to consumers. The software game market has taken a beating the past few months, which is making it even harder for the trio of companies to sell their game consoles.
Aside from lowering the price, interested gamers should also expect each company to offer free add-ons or accessories closer to the holidays, as competition continues to heat up.
